Beautifully designed and thoughtfully upgraded, this impressive two-story home in O'Fallon offers approximately 3,716 sq. ft. of living space across the first and second levels. The main level showcases 9-foot extended ceilings, a formal dining room, and a home office or formal living room with French door entry. The family room is highlighted by a wall of windows overlooking the wooded backyard and features built-in bookcases flanking the gas fireplace. The expansive kitchen is the heart of the home, featuring custom cabinetry, granite countertops, real hardwood floors, and a large center island with breakfast bar seating. The breakfast area provides a space for casual dining and offers access to a covered, screened-in deck. This seamlessly opens to a maintenance-free deck featuring steps down to the backyard. A butler’s pantry and a walk-in pantry add both style and functionality to the kitchen, offering additional storage and serving space—perfect for hosting gatherings. A half bath, a drop zone with open lockers, an oversized laundry room, and a 3-car garage complete the main level. Upstairs, the massive primary suite serves as a luxurious retreat, highlighted by vaulted ceilings, an oversized 11x14 walk-in closet, and a spacious private bath complete with a double vanity, corner soaking tub, and glass-surround shower. 3 generously sized guest bedrooms are also located on this level, including 2 that share a convenient Jack-and-Jill bathroom (each with own vanity and toilet). The 3rd bedroom is a junior suite with its own private bath, and all three secondary bedrooms feature walk-in closets. The second level also boasts a massive loft / family room area and a dedicated HVAC system. The lower level expands the home’s future square footage potential with a full, unfinished lookout basement all with 9ft extended ceilings. It is just waiting for your personal touch to add a 5th bedroom, full bath, and a large family room, while still leaving plenty of unfinished storage space. Additional highlights include dual HVAC for enhanced comfort and efficiency, an irrigation system, and a new roof installed in 2025. Outside, the professionally landscaped yard and paver patio—featuring a firepit with built-in seating—are perfect for outdoor entertaining or relaxing evenings. The $775/year HOA amenities include walking trails, a playground, and a community pool.
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
